Africa promises broader, deeper economic integration
HEADS of State and Governments at the just concluded 36th Assembly of the African Union (AU) have resolved to put more weight towards political commitment on trade as a development agenda for implementation of the African Continental Free Trade Area (AfCFTA).
The Ambassador of Tanzania to Ethiopia, Mr Innocent Shio who is also the country’s Permanent Representative to the AU, made the revelation during an exclusive interview with journalists from Tanzania Broadcasting Corporation (TBC) at the end of the assembly on Sunday.
Amb Shio noted that during the meeting, African leaders agreed to ease movement of people and reduce tariff and non-tariff barriers in order to accelerate intra-trade among countries in the continent.
The theme for the 36th AU Summit which started on Saturday and ended on Sunday was; “The Year of AfCFTA: Acceleration of the African Continental Free Trade Area Implementation.”
At the end of the meeting, several instruments were signed to accelerate AfCFTA including the protocol on competitiveness and protocol on investment to the agreement for establishment of AfCFTA, Amb Shio explained.
“The leaders also agreed on fostering regional and economic integration as well as industrialisation to enhance competitiveness among African countries,” the envoy explained.
During the annual gathering, the African leaders also received and held discussions on global food crisis fuelled by effects of climate change, the aftermath of Covid-19 pandemic in addition to the ongoing war between Russia and Ukraine.
“The global food crisis report showed that some 140 million people were facing hunger in the African continent in the year 2022, compared to 120 million people in the year 2021,” the Tanzanian envoy in Addis Ababa stated.
Due to the food crisis, the leaders agreed to commit more investments in food security and nutrition as well as putting in place mitigation measures for effects of climate change.
Commenting on the AU summit, local analysts have emphasised on the need for African countries to trade amongst themselves.
The Public Relations Manager and lecturer at Centre for Foreign Relations, Mr Innocent Shoo, said the AfCFTA promises a broader and deeper economic integration among African countries.
“Its implementation would attract investments, boost trade, reduce poverty and create decent jobs for Africans,” he commented.
Mr Shoo was equally upbeat that the AfCFTA arrangement will boost shared prosperity for the African continent and lead to tremendous increase of foreign direct investments (FDIs).
The lecturer was of the view that the Heads of State and Government had put emphasis on solving persistent problems and making resolutions politically and socially in a bid to enhance the well-being and standard of living for Africans.
An expert on economic diplomacy, Prof Kitojo Wetengere, noted that cross-border trade among African countries is more beneficial due to geographical advantage.
“Trading amongst ourselves is more beneficial compared to other countries which are far away from Africa. We should thus utilise the potential of our markets,” he urged.
Prof Wetengere pointed further that intra-trade among countries in the continent has less stringent quality standards compared to those set by other countries in Europe, America and elsewhere.
In regard to Tanzania, the expert said the country has a comparative advantage in exporting agricultural produce to neighbouring countries which are facing food shortage
